Payday Loans in Cambridge, Vermont

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No payday loan companies in Cambridge, VT. Consider companies in other cities:

Company nameAddressZip codePhone number
PricewaterhouseCoopers LLP 1 National Life Dr 1st floor, Montpelier, VT 05604 +1 (802) 229 - 7553
Mark Severance - CMG Financial Mortgage Loan Officer NMLS 85384 4 San Remo Dr, South Burlington, VT 05403 +1 (802) 343 - 1983
Academy Mortgage 91 Main St Suite 3, Stowe, VT 05672 +1 (802) 253 - 2055
Gold Silver Thrift Pawn Shop 4824, 69 S Main St 2, Barre, VT 05641 +1 (802) 498 - 5882
Members 1st Credit Union 10 Browne Ct, Brattleboro, VT 05301 +1 (802) 257 - 5131
Jonezie's Auto 2205 Wheeler Rd, Brandon, VT 05733 +1 (802) 247 - 4349
Law Offices of Fred Peet 55 Patchen Rd 55, South Burlington, VT 05403 +1 (802) 860 - 4767
Northfield Savings Bank Shopping Center, 100 Mad River Green, Waitsfield, VT 05673 +1 (802) 496 - 9700
Community National Bank 4245 U.S. Route 101, Troy, VT 05868 +1 (802) 744 - 2287
Tax Team 86 Court St, Middlebury, VT 05753 +1 (802) 388 - 6603

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cambridge, VT, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Burlington, VT. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Cambridge, VT.

Beautiful sights of Cambridge, VT

Payday Loans Available in Cambridge, VT By The Following ZIP Codes:

05444

Are Payday Loans Legal In Cambridge, Vermont?

Payday Lending is Prohibited in Vermont

Vermont Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Cambridge, VT payday loan calculator

If you’re in Cambridge, Vermont and looking for a payday loan, it’s important to know that they are prohibited in the state. But what exactly are payday loans, and why are they banned in Vermont?

What are payday loans?

Payday loans are short-term loans that usually range from $100 to $1,000. Borrowers typically have to repay the loan in full within two weeks, often on their next payday. These loans are often advertised as a quick and easy way to get cash when you’re in a financial bind.

However, payday loans are notorious for their high interest rates and fees. According to the Consumer Financial Protection Bureau (CFPB), the average payday loan borrower pays back $450 in fees for a $350 loan.

Why are payday loans banned in Vermont?

In 2012, Vermont became the first state to prohibit payday loans. The state’s Attorney General at the time, William Sorrell, cited concerns over the high costs and predatory nature of these loans.

According to Sorrell, “Payday loans are financial snake pits that often trap vulnerable Vermonters in a never-ending cycle of debt.”

What are the alternatives to payday loans?

If you need money quickly and don’t have time to wait for a traditional loan, there are still options available to you:

  • Ask family or friends for a loan
  • Consider a credit card cash advance
  • Look into a personal loan from a bank or credit union
  • Find out if you’re eligible for government assistance (such as SNAP or LIHEAP)

Interesting Facts and Statistics about Payday Loans in Cambridge, Vermont

  • The average APR on a payday loan in the US is 391%
  • In 2015, Vermont had the lowest average payday loan interest rate in the country, at 115%
  • The CFPB has found that more than 80% of payday loans are rolled over or followed by another loan within 14 days

Apply Now

While payday loans are prohibited in Vermont, those in need of money can explore other loan options with TheGuaranteedLoans. Our service will connect you with potential lenders who offer a variety of loan types to fit your needs. Please note that TheGuaranteedLoans acts as a connector service, not a direct lender, and we encourage you to thoroughly read and understand the terms and conditions of any loan before accepting it.

If you’re ready to explore your lending options, apply now on TheGuaranteedLoans website.

F.A.Q.

Can I be arrested for not paying back an illegal payday loan in Cambridge, Vermont?

No, you cannot be arrested for not paying back an illegal payday loan in Cambridge, Vermont.

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in Cambridge, Vermont?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in Cambridge, Vermont. If you have been harassed or threatened, you can report the lender to the Vermont State Department of Financial Services.

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